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Local TV LLC

Television broadcasting company From Wikipedia, the free encyclopedia

Local TV LLC was a television broadcasting company owned by Oak Hill Capital Partners which operated 20 television stations in the United States.[1][2] The group was formed in 2006 by the acquisition of nine television stations owned by The New York Times Company, and grew further with the acquisition of eight former Fox owned-and-operated stations from Fox Television Stations, and a wide partnership with Tribune Broadcasting to provide management services for the stations (in turn, Local TV also operated several Tribune stations as well).

Quick Facts Company type, Industry ...
Local TV LLC
Company typePrivate
IndustryBroadcast television
Predecessor
FoundedDecember 2006; 18 years ago (2006-12)
DefunctDecember 27, 2013; 11 years ago (2013-12-27)
FateAcquired by Tribune
Successor
Headquarters,
Key people
Bobby Lawrence, CEO
OwnerOak Hill Capital Partners
Close

On July 1, 2013, Tribune announced that it would acquire Local TV LLC for $2.7 billion, a deal which was approved by the FCC on December 20, and was completed on December 27.[3]

History

Summarize
Perspective

Local TV was created in December 2006, after Oak Hill Capital entered into an agreement with The New York Times Company to purchase nine local network-affiliated television stations; on May 7, 2007, the sale was completed as one part of a larger sale of the New York Times Company's Broadcast Media Group "for approximately $575 million."[4] At 12:01 a.m., Local TV assumed ownership of the nine television stations, located in "eight mid-sized markets."[2]

On December 21, 2007, Tribune Broadcasting and Local TV agreed to form a "broadcast management company" to provide management services to both Tribune and Local TV's stations.[5] Also as part of the agreement, the websites for Local TV's stations were transitioned to a platform developed and managed by Tribune Interactive.[6] The next day, December 22, 2007, Local TV announced plans to acquire eight Fox owned-and-operated stations from Rupert Murdoch's News Corporation including WDAF-TV in Kansas City, WJW-TV in Cleveland, WITI-TV in Milwaukee, KTVI in St. Louis, Missouri, KDVR in Denver, Colorado, KSTU in Salt Lake City, WBRC in Birmingham, Alabama, and WGHP in High PointWinston-SalemGreensboro, North Carolina, completing that sale on July 14, 2008.[7] Local TV's partnership with Tribune expanded on September 17, 2008, as the company announced that it would take over Tribune's CW affiliates KWGN-TV and KPLR-TV under local marketing agreements, and consolidate them with KDVR and KTVI respectively.[8]

As part of Tribune's management agreement, the Local TV stations unveiled redesigned websites operated by Tribune Interactive beginning in January 2009, with the Fox affiliates websites being migrated to the new layout from News Corp. Digital Media's website hosting platform; Local TV later migrated its stations' websites to those hosted by WordPress.com beginning in January 2012.

In January 2009, Raycom Media announced that it would acquire one of Local TV's former Fox O&Os, WBRC-TV in Birmingham, Alabama, in exchange for its CBS affiliate WTVR-TV in Richmond, Virginia and $85 million. Raycom was required to divest WTVR as a condition of its purchase of Lincoln Financial Media's stations (which included Richmond's NBC station WWBT), as both stations ranked among 2 of the 4 highest-rated stations in the market. Raycom was previously blocked from selling WTVR to Sinclair Broadcast Group.[9] The swap also benefited Raycom, as it is based in, and already has a strong media presence in the state of Alabama.[10] On June 14, 2010, CBS Corporation announced that it would sell its CW O&O WGNT in Hampton Roads to Local TV, making it a sister station to its existing CBS affiliate WTKR.[11]

In March 2013, Oak Hill Capital began notifying stations that it was planning to sell the Local TV stations. On July 1, 2013, Tribune Broadcasting announced that it would acquire the company outright for $2.7 billion.[12][13] The deal was approved by the FCC on December 20,[14] with the completion of the sale on December 27.[3]

Officers

President and chief executive officer (CEO) was Robert Lawrence, who, Local TV announced on December 20, 2007, would succeed Randy Michaels, former CEO of Clear Channel Communications and Local TV's first CEO, who became chief operating officer (COO) of Tribune Company, on May 7, 2008.[1][15][16]

Chief financial officer (CFO) of Local TV was Pam Taylor.[1]

Former stations

Stations are arranged alphabetically by state and by city of license.

More information Media market, State ...
Stations owned by Local TV LLC
Media market State Station Purchased Sold Notes
BirminghamAlabama WBRC 20082009
Huntsville WHNT-TV 20072013
Fort SmithFayettevilleArkansas KFSM-TV 20072013
KXNW 20122013
DenverColorado KDVR 20082013
KWGN-TV 20082013[a]
Fort Collins KFCT 20082013[A]
DavenportIowa WBQD-LP 20082011[b]
WQAD-TV 20072013
Des Moines WHO-DT 20072013
Kansas CityMissouri WDAF-TV 20082013
St. Louis KTVI 20082013
KPLR-TV 20082013[a]
High PointGreensboroWinston-SalemNorth Carolina WGHP 20082013
ClevelandOhio WJW 20082013
Oklahoma CityOklahoma KAUT-TV 20072013
KFOR-TV 20072013
ScrantonWilkes BarrePennsylvania WNEP-TV 20072013
MemphisTennessee WREG-TV 20072013
Salt Lake CityUtah KSTU 20082013
NorfolkPortsmouthNewport NewsVirginia WGNT 20102013
WTKR 20072013
Richmond WTVR-TV 20092013
MilwaukeeWisconsin WITI 20082013
Close
  1. Satellite of KDVR.
  1. Owned by Tribune Broadcasting and by Local TV LLC.
  2. Owned by Venture Technologies Group, LLC affiliate Four Seasons Broadcasting, and operated by WQAD-TV.

References

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